News: Brokerage

Canopy by Hilton and Hyatt House to operate hotels in shared building

Savills Studley's U.S. Capital Markets Hospitality Group advised Hoffman-Madison Waterfront, the master developer of the mixed-use waterfront community The Wharf, in choosing Hilton Worldwide and Hyatt Hotels Corp. for its 413-key dual-branded hotel. Following an extensive, year-long RFP process in which more than 20 hotel brands from around the globe responded, Savills Studley secured the Canopy by Hilton and Hyatt House brands for the 300,000 s/f hotel. Both locations will be managed and operated by Concord Hospitality Enterprises Company and designed by SmithGroup JRR. "We received an overwhelming response from national and international hotel brands. Ultimately it was determined that the unique combination of Hilton, Hyatt and Concord Hospitality Enterprises would provide a superior experience," said Justin Magazine, managing director of Savills Studley's U.S. Capital Markets Hospitality Group. Canopy by Hilton will open its first location in the District of Columbia with a 120,000 s/f lifestyle brand hotel with 175 rooms, while the Hyatt House be a 145,000-square feet extended-stay hotel with 238 rooms. The combined hotels will include dining options, a 1,100-square-foot fitness center, 2,500 square feet of meeting space, outdoor terraces, an outdoor pool and a rooftop bar. The property will be located between Maine Avenue and Wharf Street, adjacent to 7th Street Park. The hotels are expected open in Fall 2017.
MORE FROM Brokerage

CM&B completes Activate Games’ NYC debut in Union Square

Manhattan, NY Construction Management and Builders, Inc. (CM&B) has completed construction of Activate Games’ first US flagship store in New York City, transforming a historic Union Square retail destination into a 15,000 s/f active gaming experience where players become part of the game.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.